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Financial News: Optimism In UK Financial Services Sector Stabilizes In

Optimism In UK Financial Services Sector Stabilizes In Q2: CBI/PwC

07/02/2018 - 03:19:00 (RTTNews)

(RTTNews) - After weakening sharply in previous quarters, optimism in the financial services sector stabilized in the second quarter, survey data from the Confederation of British Industry and PricewaterhouseCoopers showed Monday.

A net balance of -4 percent said they were less optimistic about the overall business situation compared to -17 percent in the previous quarter, the Financial Services Survey showed. Similarly, a balance of -4 percent reported a decline in business volumes.

Looking ahead to the quarter to September, a balance of 7 percent expects sales volumes to rise next quarter.

"Brexit continues to drive uncertainty amongst sector players, from the smaller operators to the market leaders. Location planning, people movements and client retention remain at the top of the agenda, despite the extra time afforded by the transition period," Andrew Kail, head of financial services at PwC, said.

Firms are expecting further progress to be made at the negotiation tables of Brussels and Westminster, Kail added.

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